This week, CoinDesk highlighted the resurgence of Bitcoin after a period of stagnation. The cryptocurrency surged to over $95,000, marking a 12% increase for the week and signaling renewed confidence in the post-election crypto landscape. As prices climbed, Bitcoin claimed the fifth spot among all financial assets, even surpassing Google's market cap for the first time. This remarkable achievement underscores the evolution of Bitcoin from a passion project within cypherpunk circles two decades ago to a major player in today's financial markets.

The rising value of key cryptocurrencies is paving the way for innovative Web 3 concepts. For instance, this week saw the popular British TV series Peaky Blinders unveil a blockchain-powered video game and Web3 ecosystem. Additionally, there has been a noticeable uptick in gaming and cultural-crypto developments compared to a year ago.

In light of recent market trends, Bitcoin and stablecoins emerge as top contenders for investment opportunities. Notably, Circle announced a new global payments network centered around USDC stablecoin, while Coinbase introduced free conversions between U.S. dollars and PayPal's PYUSD stablecoin. Embracing Bitcoin accumulation alongside stablecoin transactions seems to be gaining traction as a prudent strategy amidst evolving market conditions, though it's essential to note that this is not financial advice.

41

CoinDesk Weekly Recap: Finally, the Bitcoin Rally

After weeks of plateau, this week we saw an upswing in prices and a return to post-election crypto confidence. Here’s how CoinDesk reported the news that mattered.

After several weeks on a plateau, bitcoin saw some action this week, climbing to more than $95,000 at press time. It was up 12% on the work-week, buoyed by better macro news and a feeling that the worst of tariff-mania may be over.

Bitcoin became the fifth most-valuable of all financial assets this week, surpassing Google’s market cap for the first time. Not bad for a protocol that started as a hobby among cypherpunks 20 years ago.

Ouch.

But rising prices for core crypto assets is opening space for expansive Web 3 ideas. This week, the hit British TV series Peaky Blinders launched a blockchain-based video game and Web3 “ecosystem,” for instance. And, in a shift from a year ago, we saw plenty of other gaming and cultural-crypto news announcements.

Still, if you had to pick two winners in the current market, you’d have to go for bitcoin and… stablecoins (there are going to be hundreds of them soon). This week, USDC-issuer Circle announced a new global payments and remittances network (Ian Allison reported), and Coinbase free conversion between U.S. dollars and PayPal's PYUSD stablecoin.

You can’t go really too far wrong — though it’s not investment advice —accumulating bitcoin, and paying in stables.